Around one million families often argue about the state of their finances, Clydesdale and Yorkshire Banks found, showing that the effects of the recession are still being felt.

Furthermore, 340,000 families have seen their children return home in a bid to save money or avoid getting into further financial difficulties.

Steve Reid, Retail Director of Clydesdale and Yorkshire Banks, said: “It’s important that people understand that help is available and that the sooner they seek it out the better.”

Those in their 20s are more likely to have altered their plans for the year ahead in light of money worries, the research found.

Markit and YouGov’s latest survey of UK households indicated that household finances deteriorated again during May.

Approximately one in four (26 per cent) of the 2,000 households questioned in May reported that their financial situation had worsened since April.

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